Union Bank Credit Card Eligibility – Income, Age & Document Criteria

Key Insights
 

1. To get approved for a Union Bank Credit Card, you need to be between 21 and 65 years old and have a minimum yearly income of ₹2,00,000. 

2. If you are salaried, you should provide your salary slips or Form 16. If you are self-employed, you need to submit your income tax returns and computation sheets for the past two years.

3. You can improve your chances by keeping your credit score above 750, handling your current debts well, and paying all your bills on time.

The Union Bank offers a wide range of credit cards with a discount on almost every transaction. 

If you use the Union Bank Credit Cards, you have to fulfil the eligibility criteria, which show that you can use the Union Bank Credit Card. 

Example: 

My friend Rohan is 28 and works as a salaried professional. He got approved after submitting his PAN card, salary slips, and ITR, which showed his annual income of ₹4,00,000 met the requirement. Now, he gets cashback on all his online shopping.

In this blog, you can learn about the parameters of Union Bank Credit Card eligibility, including Credit Card Eligibility for Salaried & Self-Employed individuals.

You can also learn Union Credit Card Eligibility for Popular Cards, and Tips to Improve Your Eligibility for a Union Credit Card. 

Union Bank Credit Card Eligibility Parameters

There are specific parameters that you must fulfil if you want to use the Union Bank Credit Card.

Here are the eligibility parameters for the Union Bank credit card:
 

These are the parameters that need to be fulfilled in order to use the Union Bank credit card.

Bonus Tip: Do you know? If you check your balance through a Union Bank ATM, you don’t need to pay any charges. However, if you check at other ATMs, you will pay ₹20.

Union Bank Credit Card Eligibility for Salaried & Self-Employed

For the Credit Card, you need to provide income sources, and there are two options to earn for salaried and self-employed, but what is the eligibility for a salaried and self-employed person?

Here are the eligibility criteria for salaried and self-employed individuals.

Union Bank Specific requirements for salaried individuals

Here is the list:
 

• Salaried applicants should submit Form 16 or IT returns, along with their latest salary slip.
   
• If you have a credit history, there are no restrictions on employers. If you are new to credit, you may need to work for a preferred employer.
   

Now you see the specific requirements for salaried individuals; the following criteria apply to self-employed individuals.

Union Bank Specific requirements for self-employed individuals

Here is the list:
 

• Business applicants are required to provide two years of IT returns, along with computation sheets.
   
• It is essential to have a strong credit history and a good credit score.

These are the eligibility criteria for businesspersons and self-employed individuals to apply for the Union Bank Credit Card.

Bonus Tip: Do you know? If you withdraw cash through Union Bank ATMs or Other ATMs, you may have to pay 3% on the amount withdrawn charges on the money you withdraw through your Union Bank Credit Card.

Union Bank Credit Card Eligibility for Popular Cards

Union Bank offers several popular credit cards, but do these cards have different eligibility criteria?

Let’s see the Union Bank popular credit card eligibility criteria.

1. Union Bank Rupee Select Credit Card

• Age:  If you are salaried, you must be between 18 and 65 years old to be the primary cardholder. Add-on cardholders must be at least 18 years old.
• Income: The income eligibility limit is 2,50,000 per year, and Business class applicants need to provide income tax returns and computation sheets for the past two years.

2. Union Bank Visa Signature Credit Card

• Age: The primary cardholder must be between 21 and 65 years old, whether employed as a salaried individual or a professional. Add-on cardholders must be at least 18 years old.
• Income: The income eligibility limit is ₹10,00,000 per year.

These two cards are the most popular credit cards of the Union Bank. 

Tips to Improve Eligibility for Union Bank Credit Card

You can increase your chances of getting a credit card in the Union Bank. You just need to follow these tips.

Here are the tips to improve eligibility for the Union Bank Credit Card.

Credit Rating: To qualify for a Union Bank Credit Card, you need a credit score of at least 750. If your score is higher and closer to 900, you may be offered a card with a higher credit limit.

Debts already owed: Paying your bills on time is essential, but your income is also considered when deciding your creditworthiness. If you have debts and can demonstrate your ability to repay them, you may qualify for a higher SIB credit card limit.

Timely Payment: Pay your bills on time, including loans, debts, phone, energy, and other utilities. Avoid maxing out your credit card, and refrain from overspending simply because you have a budget in place.

These are things you can follow to improve your chances of getting a Union Bank Credit Card.

Conclusion

Union Bank offers a variety of credit cards, each with its own eligibility criteria for customers. You can improve your chances of getting a Union Bank credit card with these tips.

There are specific parameters that you must fulfil, including credit card age, minimum income, and documentation.

FAQs

How is the credit limit determined for a Union Bank of India credit card?

The credit limit is set according to your income and where it comes from when you apply for the Union Bank of India credit card.

What are the different bill payment modes available to Union Bank of India credit card holders?

You can pay your credit card bill using Internet Banking, Auto Debit, or by visiting any Union Bank of India branch.

What are the charges that are levied when no payment is made towards an outstanding credit card bill?

If you do not make any payment, Union Bank will charge late payment fees and interest on all transactions from the date of purchase.

When do I start paying interest on the new purchases if I already have the revolving credit?

If you already have revolving credit, interest on new purchases begins on the day you make each new purchase.
 

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LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.